Intangible Property Tax

Intangible Property TaxTaxes
Assessed on Dealers in Intangibles, by County, Calendar Year
1999

The total amount of intangible property tax assessed on
shares or capital employed by dealers in intangibles in 1999
was $16,464,792.

Intangible property includes investments, credits, money,
shares and capital. Dealers in intangibles that are taxed
have an office in Ohio that: lends money; discounts, buys or
sells bills of exchange, drafts, acceptance notes and
mortgages; and buys or sells bonds, stocks or other
investment securities.

The tax rate on fair value of shares or capital employed is
eight mills. The tax base is basically shares of stock and
capital stock divided into shares. Charities, insurance
companies and financial institutions are exempt.

Tax returns are filed with the tax commissioner. The
commissioner determines taxable values while the state
treasurer collects the taxes. Three mills of receipts go to
the General Revenue Fund, and five mills of receipts are
distributed to the county undivided local government fund of
the county where the firm's capital is used. Each counties'
budget commission distributes revenue among their local
subdivisions.

Figures shown are compiled from records of the Ohio
Department of Taxation.